# Katsutoshi Wakai

## Personal Details

First Name: | Katsutoshi |

Middle Name: | |

Last Name: | Wakai |

Suffix: | |

RePEc Short-ID: | pwa646 |

[This author has chosen not to make the email address public] | |

http://www.econ.kyoto-u.ac.jp/~wakai/ | |

Terminal Degree: | 2002 Economics Department; Yale University (from RePEc Genealogy) |

## Affiliation

### Graduate School of Economics

Kyoto University

Kyoto, Japanhttps://www.econ.kyoto-u.ac.jp/

RePEc:edi:fekyojp (more details at EDIRC)

## Research output

Jump to: Working papers Articles### Working papers

- Tadashi Sekiguchi & Katsutoshi Wakai, 2016.
"
**Repeated Games with Recursive Utility:Cournot Duopoly under Gain/Loss Asymmetry**," Discussion papers e-16-006, Graduate School of Economics , Kyoto University. - Masahiko Egami & Yuki Shigeta & Katsutoshi Wakai, 2016.
"
**An Irreversible Change of Correlations in the US Equities Market and Difficulties in Using the Information**," Discussion papers e-15-013, Graduate School of Economics , Kyoto University. - Katsutoshi Wakai, 2015.
"
**Equilibrium Alpha in Asset Pricing in an Ambiguity-averse Economy**," Discussion papers e-15-010, Graduate School of Economics , Kyoto University. - Masahiko Egami & Yuki Shigeta & Katsutoshi Wakai, 2014.
"
**The change of correlation structure across industries:an analysis in the regime-switching framework**," Discussion papers e-14-002, Graduate School of Economics Project Center, Kyoto University. - Katsutoshi Wakai, "undated".
"
**A Factor Pricing Model under Ambiguity**," Discussion papers e-17-012, Graduate School of Economics , Kyoto University.

### Articles

- Katsutoshi Wakai, 2015.
"
**Recursive extension of a multicommodity analysis**," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), vol. 3(2), pages 271-285, October. - Wakai, Katsutoshi, 2014.
"
**Observational equivalence and nonequivalence of subjective and robust mean–variance preferences**," Economics Letters, Elsevier, vol. 124(2), pages 219-221. - Katsutoshi Wakai, 2013.
"
**Intertemporal utility smoothing under uncertainty**," Theory and Decision, Springer, vol. 74(2), pages 285-310, February. - Katsutoshi Wakai, 2013.
"
**Intertemporal Utility Smoothing: Theory And Applications**," The Japanese Economic Review, Japanese Economic Association, vol. 64(1), pages 16-41, March. - Wakai, Katsutoshi, 2013.
"
**An alternative axiomatization of intertemporal utility smoothing**," Economics Letters, Elsevier, vol. 119(2), pages 224-227. - Wakai, Katsutoshi, 2012.
"
**An infinite-horizon model of nonmonotone utility smoothing**," Economics Letters, Elsevier, vol. 116(2), pages 170-173. - Wakai, Katsutoshi, 2011.
"
**Modeling nonmonotone preferences: The case of utility smoothing**," Journal of Mathematical Economics, Elsevier, vol. 47(2), pages 213-226, March. - Katsutoshi Wakai, 2008.
"
**A Model of Utility Smoothing**," Econometrica, Econometric Society, vol. 76(1), pages 137-153, January. - Katsutoshi Wakai, 2007.
"
**Aggregation under homogeneous ambiguity: a two-fund separation result**," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 30(2), pages 363-372, February. - Wakai, Katsutoshi, 2007.
"
**A note on recursive multiple-priors**," Journal of Economic Theory, Elsevier, vol. 135(1), pages 567-571, July.

## Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.### Working papers

- Tadashi Sekiguchi & Katsutoshi Wakai, 2016.
"
**Repeated Games with Recursive Utility:Cournot Duopoly under Gain/Loss Asymmetry**," Discussion papers e-16-006, Graduate School of Economics , Kyoto University.Cited by:

- Ichiro Obara & Jaeok Park, 2015.
"
**Repeated Games with General Discounting**," Working papers 2015rwp-84, Yonsei University, Yonsei Economics Research Institute.- Obara, Ichiro & Park, Jaeok, 2017.
"
**Repeated games with general discounting**," Journal of Economic Theory, Elsevier, vol. 172(C), pages 348-375.

- Obara, Ichiro & Park, Jaeok, 2017.
"

- Ichiro Obara & Jaeok Park, 2015.
"
- Katsutoshi Wakai, 2015.
"
**Equilibrium Alpha in Asset Pricing in an Ambiguity-averse Economy**," Discussion papers e-15-010, Graduate School of Economics , Kyoto University.Cited by:

- Chiaki Hara & Toshiki Honda, 2014.
"
**Asset Demand and Ambiguity Aversion**," KIER Working Papers 911, Kyoto University, Institute of Economic Research. - Katsutoshi Wakai, "undated".
"
**A Factor Pricing Model under Ambiguity**," Discussion papers e-17-012, Graduate School of Economics , Kyoto University.

- Chiaki Hara & Toshiki Honda, 2014.
"
- Katsutoshi Wakai, "undated".
"
**A Factor Pricing Model under Ambiguity**," Discussion papers e-17-012, Graduate School of Economics , Kyoto University.Cited by:

- Katsutoshi WAKAI, 2019.
"
**On Identification of Ambiguity Premium**," Discussion papers e-18-009, Graduate School of Economics , Kyoto University.

- Katsutoshi WAKAI, 2019.
"

### Articles

- Katsutoshi Wakai, 2013.
"
**Intertemporal Utility Smoothing: Theory And Applications**," The Japanese Economic Review, Japanese Economic Association, vol. 64(1), pages 16-41, March.Cited by:

- Jean-Pierre Drugeon & Thai Ha-Huy & Thi Do Hanh Nguyen, 2019.
"
**On maximin dynamic programming and the rate of discount**," Post-Print halshs-02096484, HAL.- Jean-Pierre Drugeon & Thai Ha-Huy & Thi Do Hanh Nguyen, 2019.
"
**On maximin dynamic programming and the rate of discount**," PSE-Ecole d'économie de Paris (Postprint) halshs-02096484, HAL. - Jean-Pierre Drugeon & Thai Ha-Huy & Thi Do Hanh Nguyen, 2019.
"
**On maximin dynamic programming and the rate of discount**," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 67(3), pages 703-729, April.

- Jean-Pierre Drugeon & Thai Ha-Huy & Thi Do Hanh Nguyen, 2019.
"
- Yuki SHIGETA, 2019.
"
**Gain/Loss Asymmetric Stochastic Differential Utility**," Discussion papers e-19-004, Graduate School of Economics , Kyoto University.- Shigeta, Yuki, 2020.
"
**Gain/loss asymmetric stochastic differential utility**," Journal of Economic Dynamics and Control, Elsevier, vol. 118(C).

- Shigeta, Yuki, 2020.
"
- Jean-Pierre Drugeon & Thai Ha-Huy & Thi-Do-Hanh Nguyen, 2018.
"
**On Maximin Optimization Problems & the Rate of Discount: a Simple Dynamic Programming Argument**," Working Papers halshs-01761997, HAL.- Jean-Pierre Drugeon & Thai Ha-Huy & Thi-Do-Hanh Nguyen, 2018.
"
**On Maximin Optimization Problems & the Rate of Discount: a Simple Dynamic Programming Argument**," PSE Working Papers halshs-01761997, HAL.

- Jean-Pierre Drugeon & Thai Ha-Huy & Thi-Do-Hanh Nguyen, 2018.
"

- Jean-Pierre Drugeon & Thai Ha-Huy & Thi Do Hanh Nguyen, 2019.
"
- Wakai, Katsutoshi, 2011.
"
**Modeling nonmonotone preferences: The case of utility smoothing**," Journal of Mathematical Economics, Elsevier, vol. 47(2), pages 213-226, March.Cited by:

- Yuki SHIGETA, 2019.
"
**Gain/Loss Asymmetric Stochastic Differential Utility**," Discussion papers e-19-004, Graduate School of Economics , Kyoto University.- Shigeta, Yuki, 2020.
"
**Gain/loss asymmetric stochastic differential utility**," Journal of Economic Dynamics and Control, Elsevier, vol. 118(C).

- Shigeta, Yuki, 2020.
"
- Myong‐Il Kang & Shinsuke Ikeda, 2014.
"
**Time Discounting And Smoking Behavior: Evidence From A Panel Survey**," Health Economics, John Wiley & Sons, Ltd., vol. 23(12), pages 1443-1464, December. - Katsutoshi Wakai, 2013.
"
**Intertemporal utility smoothing under uncertainty**," Theory and Decision, Springer, vol. 74(2), pages 285-310, February. - Wakai, Katsutoshi, 2012.
"
**An infinite-horizon model of nonmonotone utility smoothing**," Economics Letters, Elsevier, vol. 116(2), pages 170-173.

- Yuki SHIGETA, 2019.
"
- Katsutoshi Wakai, 2008.
"
**A Model of Utility Smoothing**," Econometrica, Econometric Society, vol. 76(1), pages 137-153, January.Cited by:

- Jean-Pierre Drugeon & Thai Ha-Huy & Thi Do Hanh Nguyen, 2019.
"
**On maximin dynamic programming and the rate of discount**," Post-Print halshs-02096484, HAL.- Jean-Pierre Drugeon & Thai Ha-Huy & Thi Do Hanh Nguyen, 2019.
"
**On maximin dynamic programming and the rate of discount**," PSE-Ecole d'économie de Paris (Postprint) halshs-02096484, HAL. - Jean-Pierre Drugeon & Thai Ha-Huy & Thi Do Hanh Nguyen, 2019.
"
**On maximin dynamic programming and the rate of discount**," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 67(3), pages 703-729, April.

- Jean-Pierre Drugeon & Thai Ha-Huy & Thi Do Hanh Nguyen, 2019.
"
- Eisei Ohtaki, 2020.
"
**Optimality in an OLG model with nonsmooth preferences**," Working Papers e145, Tokyo Center for Economic Research. - Ichiro Obara & Jaeok Park, 2015.
"
**Repeated Games with General Discounting**," Working papers 2015rwp-84, Yonsei University, Yonsei Economics Research Institute.- Obara, Ichiro & Park, Jaeok, 2017.
"
**Repeated games with general discounting**," Journal of Economic Theory, Elsevier, vol. 172(C), pages 348-375.

- Obara, Ichiro & Park, Jaeok, 2017.
"
- Lukasz Balbus & Kevin Reffett & Lukasz Wozny, 2020.
"
**Time consistent equilibria in dynamic models with recursivepayoffs and behavioral discounting**," Working Papers 2020-055, Warsaw School of Economics, Collegium of Economic Analysis. - Nina Anchugina, 2015.
"
**A simple framework for the axiomatization of exponential and quasi-hyperbolic discounting**," Papers 1511.06454, arXiv.org. - Yuki SHIGETA, 2019.
"
**Gain/Loss Asymmetric Stochastic Differential Utility**," Discussion papers e-19-004, Graduate School of Economics , Kyoto University.- Shigeta, Yuki, 2020.
"
**Gain/loss asymmetric stochastic differential utility**," Journal of Economic Dynamics and Control, Elsevier, vol. 118(C).

- Shigeta, Yuki, 2020.
"
- Wakai, Katsutoshi, 2011.
"
**Modeling nonmonotone preferences: The case of utility smoothing**," Journal of Mathematical Economics, Elsevier, vol. 47(2), pages 213-226, March. - Charness, Gary & Kuhn, Peter, 2011.
"
**Lab Labor: What Can Labor Economists Learn from the Lab?**," Handbook of Labor Economics, in: O. Ashenfelter & D. Card (ed.), Handbook of Labor Economics, edition 1, volume 4, chapter 3, pages 229-330, Elsevier.- Charness, Gary & Kuhn, Peter J., 2010.
"
**Lab Labor: What Can Labor Economists Learn from the Lab?**," IZA Discussion Papers 4941, Institute of Labor Economics (IZA). - Gary Charness & Peter J. Kuhn, 2010.
"
**Lab Labor: What Can Labor Economists Learn from the Lab?**," NBER Working Papers 15913, National Bureau of Economic Research, Inc.

- Charness, Gary & Kuhn, Peter J., 2010.
"
- Jean-Pierre Drugeon & Thai Ha-Huy & Thi-Do-Hanh Nguyen, 2018.
"
**On Maximin Optimization Problems & the Rate of Discount: a Simple Dynamic Programming Argument**," Working Papers halshs-01761997, HAL.- Jean-Pierre Drugeon & Thai Ha-Huy & Thi-Do-Hanh Nguyen, 2018.
"
**On Maximin Optimization Problems & the Rate of Discount: a Simple Dynamic Programming Argument**," PSE Working Papers halshs-01761997, HAL.

- Jean-Pierre Drugeon & Thai Ha-Huy & Thi-Do-Hanh Nguyen, 2018.
"
- Wakai, Katsutoshi, 2013.
"
**An alternative axiomatization of intertemporal utility smoothing**," Economics Letters, Elsevier, vol. 119(2), pages 224-227. - Myong‐Il Kang & Shinsuke Ikeda, 2014.
"
**Time Discounting And Smoking Behavior: Evidence From A Panel Survey**," Health Economics, John Wiley & Sons, Ltd., vol. 23(12), pages 1443-1464, December. - Nina Anchugina, 2017.
"
**A simple framework for the axiomatization of exponential and quasi-hyperbolic discounting**," Theory and Decision, Springer, vol. 82(2), pages 185-210, February. - Katsutoshi Wakai, 2013.
"
**Intertemporal utility smoothing under uncertainty**," Theory and Decision, Springer, vol. 74(2), pages 285-310, February. - Wakai, Katsutoshi, 2012.
"
**An infinite-horizon model of nonmonotone utility smoothing**," Economics Letters, Elsevier, vol. 116(2), pages 170-173. - Jawwad Noor & Norio Takeoka, "undated".
"
**Impatience as Selfishness**," Boston University - Department of Economics - Working Papers Series WP2018-008, Boston University - Department of Economics.

- Jean-Pierre Drugeon & Thai Ha-Huy & Thi Do Hanh Nguyen, 2019.
"
- Katsutoshi Wakai, 2007.
"
**Aggregation under homogeneous ambiguity: a two-fund separation result**," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 30(2), pages 363-372, February.Cited by:

- Illeditsch, PK & Ganguli, J & Condie, S, 2015.
"
**Information Inertia**," Economics Discussion Papers 15615, University of Essex, Department of Economics. - Chiaki Hara & Atsushi Kajii, 2006.
"
**Risk‐free bond prices in incomplete markets with recursive multiple‐prior utilities**," International Journal of Economic Theory, The International Society for Economic Theory, vol. 2(2), pages 135-157, June.

- Illeditsch, PK & Ganguli, J & Condie, S, 2015.
"
- Wakai, Katsutoshi, 2007.
"
**A note on recursive multiple-priors**," Journal of Economic Theory, Elsevier, vol. 135(1), pages 567-571, July.Cited by:

- Maccheroni, Fabio & Marinacci, Massimo & Rustichini, Aldo, 2006.
"
**Dynamic variational preferences**," Journal of Economic Theory, Elsevier, vol. 128(1), pages 4-44, May.- Fabio Maccheroni & Massimo Marinacci & Aldo Rustichini, 2006.
"
**Dynamic Variational Preferences**," Carlo Alberto Notebooks 1, Collegio Carlo Alberto.

- Fabio Maccheroni & Massimo Marinacci & Aldo Rustichini, 2006.
"
- Massimiliano Amarante & Marciano Siniscalchi, 2019.
"
**Recursive maxmin preferences and rectangular priors: a simple proof**," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), vol. 7(1), pages 125-129, May. - Katsutoshi Wakai, 2013.
"
**Intertemporal utility smoothing under uncertainty**," Theory and Decision, Springer, vol. 74(2), pages 285-310, February.

- Maccheroni, Fabio & Marinacci, Massimo & Rustichini, Aldo, 2006.
"

## More information

Research fields, statistics, top rankings, if available.### Statistics

#### Access and download statistics for all items

### Co-authorship network on CollEc

### NEP Fields

NEP is an announcement service for new working papers, with a weekly report in each of many fields. This author has had 3 papers announced in NEP. These are the fields, ordered by number of announcements, along with their dates. If the author is listed in the directory of specialists for this field, a link is also provided.- NEP-UPT: Utility Models & Prospect Theory (3) 2015-11-15 2016-07-09 2018-03-26
- NEP-COM: Industrial Competition (1) 2016-07-09
- NEP-FMK: Financial Markets (1) 2015-11-15
- NEP-GTH: Game Theory (1) 2016-07-09
- NEP-MIC: Microeconomics (1) 2016-07-09

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